Post Utme Achievers University 2021 Economics Question 2

Practice objective / multiple choice question 2 from the 2021 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2021 Economics Objective / Multiple Choice
Question 2 POST_UTME_ACHIEVERS_UNIVERSITY • 2021 • ECONOMICS • objective

A country's GDP is calculated as the sum of the value of all final goods and services produced within its borders. However, the country also imports goods worth ₦100 billion and exports goods worth ₦120 billion. What is the country's balance of payments?

Answer Options

A. The country has a trade deficit of ₦20 billion.
Correct Answer B. The country has a trade surplus of ₦20 billion.
C. The country has a balance of payments deficit of ₦20 billion.
D. The country has a balance of payments surplus of ₦20 billion.
Correct Answer
B
Correct Option:
The country has a trade surplus of ₦20 billion.

About This Question

This is Post Utme Achievers University 2021 Economics Question 2. It is one of the objective questions from the 2021 Post Utme Achievers University Economics examination.

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